Searching for Homes

Most likely you've already done this to some degree. Everybody picks up a Homes magazine or a newspaper before contacting a Realtor. Just shy away from getting too involved in the hunt before your pre-approved.

Chances are that you will begin the home hunting process by reviewing with your Realtor those homes that you've already chosen from the trade publications. Your Realtor can provide you with extended information regarding each home you've chosen as well as provide you with additional homes that may meet your needs.

In order to do this, your Realtor utilizes a system called the Multiple Listing Service (MLS). In short, the MLS is a huge database that keeps track of all of the area properties that have ever been listed or sold. Basically, every local Realtor, inputs his or her listings into the MLS database. With access to the MLS database every local Realtor receives access to every local listing. Yes, your Realtor can show you another Realtor's listings. In the rare instance that he or she cannot, your Realtor will notify you.

The MLS is a powerful system that enables Realtors to help price properties, locate available listings for current buyers, review trends in specific areas, and develop real estate forecasts. The only data not listed within the MLS are those listings sold by the owners directly (statistically, this accounts for less than 1.5% of all real estate transactions, according to NAR.)

In the rare instance that you happen to find a home that is For Sale By Owner (FSBO), you may want to contact your Realtor before contacting the owner. Your Realtor is there to help guide you through the home buying process. To help make a FSBO purchase as simple as possible, provide your Realtor with any information that you've acquired regarding the property. Ask your Realtor to contact the owner on your behalf. Your Realtor will then do so, and ask the owner if he or she will consider working with a buyer who is represented by a Realtor (Surprising, most FSBO's will.) Should the current owner refuse to do so, your Realtor will notify you. At that time, you have the option to work with the seller directly, or hire the Realtor to represent you in the transaction (in most cases the latter is a cost to you as the buyer.)

Also, if you are interested in building, inform your Realtor. Builders frequently campaign their products to Realtors, so the best source of knowledge regarding area builders is most likely your Realtor.

In nearly every case, your Realtor can show you a home that is listed by any other Realtor in the area. So for example, if you found a home that is listed with a Realtor from company A, yet your Realtor works for Company B…..chances are that your Realtor can still show you that home and represent you in the transaction. If for some legal reason, your Realtor cannot do so, he or she will inform you.

Once you've located a few homes that you'd like to get a closer look at. Your Realtor will schedule a showing for each home. Enjoy the showing process…..you've taken care of the financing business…..now is the time to fall in love with your new home. When you do find a home that fits your needs, wants, and desires, it is time to consider…. page 4 of 10